Full and final settlement help thread

[Deleted User]

Austinhead wrote: »

From my understanding, it is the date of the first default on the account.

Thank you, that's what I'd hoped:T. Only 2 more years to go then:j

fatbelly

carbootcrazy wrote: »

fatbelly can you just clarify please whether the account disappears from the credit files 6 years after the date of default or 6 years after the F&F. My defaults date from early summer 2013 but F&Fs ( with a bit of luck that I can get them really low;)) might not be until around Christmas this year.

Thanks:beer:

The entries drop off in summer 2019 in your case

funkyfish586

Hi all, just looking for some advice. Myself and husband have been on a DMP for 6 years with payplan. We have just under £12000 left between us to pay. All but 1 of the defaults have dropped off our credit file with the last one dropping off in December. A family member has genuinely offered to loan us the money to clear it ASAP so we sent off F&F's to all 9 creditors at an offer of 30%. We have received rejections this week from everyone of them. I'm a bit upset as I foolishly thought they would accept given how long we have been making reduced payments to them and the default dates etc but it seems not. Do you think we have left it too late in the journey to offer as there's only 2 years left to pay and whilst reduced payments we have never missed one. Is it worth sending a counter offer? Any help would be greatly received.

Thank you.

sourcrates

funkyfish586 wrote: »

Hi all, just looking for some advice. Myself and husband have been on a DMP for 6 years with payplan. We have just under £12000 left between us to pay. All but 1 of the defaults have dropped off our credit file with the last one dropping off in December. A family member has genuinely offered to loan us the money to clear it ASAP so we sent off F&F's to all 9 creditors at an offer of 30%. We have received rejections this week from everyone of them. I'm a bit upset as I foolishly thought they would accept given how long we have been making reduced payments to them and the default dates etc but it seems not. Do you think we have left it too late in the journey to offer as there's only 2 years left to pay and whilst reduced payments we have never missed one. Is it worth sending a counter offer? Any help would be greatly received.

Thank you.

I would CCA them all first.

See who has compliant paperwork, and who dosent.

Then when i had those results, i would try again, some may be unenforceable, you wont know if you dont ask.

You might save your family member some cash.

funkyfish586

sourcrates wrote: »

I would CCA them all first.

See who has compliant paperwork, and who dosent.

Then when i had those results, i would try again, some may be unenforceable, you wont know if you dont ask.

You might save your family member some cash.

Thank you Sourcrates. I think that is a good idea! Just to be sure I understand correctly. I just need to send off the CCA template with a £1 postal order for all and do not sign the letter?

Thank you!

fatbelly

funkyfish586 wrote: »

Thank you Sourcrates. I think that is a good idea! Just to be sure I understand correctly. I just need to send off the CCA template with a £1 postal order for all and do not sign the letter?

Thank you!

For it to be a legitimate s77-9 request, it has to be accompanied by £1, that's right.

But I would sign the letter. They don't need to 'lift' your signature to comply with the request so I think the worry about it is overdone.

funkyfish586

fatbelly wrote: »

For it to be a legitimate s77-9 request, it has to be accompanied by £1, that's right.

But I would sign the letter. They don't need to 'lift' your signature to comply with the request so I think the worry about it is overdone.

Thank you. I know this is a silly question but are there any repercussions of asking for the CCA's etc? I am so worried about rocking the boat as we haven't had any problems with creditors at all and my main aim is to debt free and i wouldn't want them to pull out of the DMP etc.

sourcrates

funkyfish586 wrote: »

Thank you. I know this is a silly question but are there any repercussions of asking for the CCA's etc? I am so worried about rocking the boat as we haven't had any problems with creditors at all and my main aim is to debt free and i wouldn't want them to pull out of the DMP etc.

Lots of people ask this very question.

It's your democratic right under the consumer credit act to ask for information about your credit agreement, it's written into law, they cannot refuse, they cannot do anything to you because of this.

There's no rocking of any boat, they must comply with the act end of !!!!

fatbelly

funkyfish586 wrote: »

Thank you. I know this is a silly question but are there any repercussions of asking for the CCA's etc? I am so worried about rocking the boat as we haven't had any problems with creditors at all and my main aim is to debt free and i wouldn't want them to pull out of the DMP etc.

No, it's a right you have for all Consumer Credit Act debts.

So that's credit cards, loans catalogues, HP...

But not overdrafts, mortgage shortfalls or mobile phones.

funkyfish586

sourcrates wrote: »

Lots of people ask this very question.

It's your democratic right under the consumer credit act to ask for information about your credit agreement, it's written into law, they cannot refuse, they cannot do anything to you because of this.

There's no rocking of any boat, they must comply with the act end of !!!!

Ok Phew. I will crack on, thank you again.